AUDUSD Movement
For the 24 hours to 23:00 GMT, the AUD strengthened 1.84% against the USD to close at 0.7764, after the Fed statement cooled expectations of an imminent rate hike in its next month’s meeting, even after the policy-setting committee decided to drop the word “patient” from its statement.
LME Copper prices declined 1.26% or $72.5/MT to $5692.5/MT. Aluminium prices rose 0.08% or $1.5/MT to $1771.5/MT.
In the Asian session, at GMT0400, the pair is trading at 0.7741, with the AUD trading 0.29% lower from yesterday’s close.
The pair is expected to find support at 0.7605, and a fall through could take it to the next support level of 0.7469. The pair is expected to find its first resistance at 0.7863, and a rise through could take it to the next resistance level of 0.7984.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
